NagaCorp to delay US$3.5 billion Naga 3 expansion by four years until 2029

The scheduled completion date for NagaCorp’s US$3.5 billion Naga 3 expansion of its integrated resort NagaWorld in Phnom Penh, Cambodia, has been extended by four years as the company looks to rein in its capital expenditure in the wake of the COVID-19 pandemic.

NagaCorp has also flagged a potential reduction in the size and scale of the development.

Details of the amended development terms were outlined in an overnight filing in which NagaCorp revealed that it has entered into an agreement with its contractor which updates the completion date of the original Design and Build Agreement from 30 September 2025 until 30 September 2029. The agreement is also subject to other further adjustments as mutually agreeable between Naga 3 Company Limited and the contractor, the company explained.

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